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The Philippines could unlock a US$60 billion tokenised-asset market by 2030, according to a white paper launched by local crypto exchange PDAX, along with Saison Capital and Onigiri Capital.
Unveiled under the banner Project Bayani: The Philippines’ Asset Tokenization Opportunity, the report outlines how tokenised government bonds, equities, mutual funds, and other investment products could reshape the country’s financial system and deliver unprecedented levels of financial inclusion.
The report argues that the Philippines is uniquely positioned to leapfrog traditional finance due to its high digital adoption rates and widespread use of mobile wallets such as GCash, Maya, Coins.ph, and PDAX.
While just under five percent of Filipinos invest in traditional markets such as stocks, bonds, or mutual funds, 14 percent already own cryptocurrencies, signalling that the population is more comfortable with digital-native financial products.
With major e-wallets already equipped with blockchain-based wallets, the infrastructure for mass tokenised asset distribution is “already in people’s pockets”, said Nichel Gaba, Founder and CEO of PDAX.
“The Philippines has a unique advantage: blockchain wallets are already mainstream. We’re not starting from scratch. The infrastructure to deliver tokenised assets to millions of Filipinos already exists,“ Gaba said.
The report estimates the Philippines’ total tokenised-asset market to reach US$60 billion by 2030. Meanwhile, public equities are projected to reach US$26 billion, government bonds US$24 billion, mutual funds US$6 billion, and other assets are expected to hit US$4 billion by 2030.
According to the study, more Filipinos own crypto (14 percent) than traditional investments, nearly half of all bond accounts from recent issuances now hold bonds in tokenised form, and tokenised versions of investment products could become the most widely distributed format in the country. The research argues that the Philippines is on track to become one of the world’s earliest “tokenisation-first” capital markets.
According to Qin En Looi, Managing Partner of Onigiri Capital and Partner at Saison Capital, the country’s digital ecosystem sets the stage for rapid tokenisation growth.
“What makes the Philippines extraordinary is not just its adoption of blockchain technology but how deeply it is integrated into daily life,” Looi said. “With wallets as the primary financial interface for millions, tokenisation is a natural next step in how Filipinos save, invest, and build wealth.”
The report positions tokenisation, the process of issuing digital blockchain-based versions of real-world assets, as the mechanism that will enable secure, low-cost, fractional investment opportunities for millions of retail users.
Meanwhile, the Philippines got its first blockchain-enabled microlearning platform. Filipino EduTech firm Bitskwela launched BitDev, a blockchain-enabled developer microlearning platform designed to help transform Web2 developers into job-ready Web3 builders. The launch marks the first platform of its kind in the Philippines, aiming to grow the country’s blockchain talent pool amid rising global demand for Web3 skills.
In February, the country’s Department of Education (DepEd) launched the Education Center for AI Research (E-CAIR). This initiative aims to revolutionise the education system by driving innovation in the educational landscape using AI-powered solutions. The initiative aligns with the government’s push for digital transformation as it embraces technology to drive progress in various sectors, including education and governance. Integration of AI and education helps E-CAIR support the government’s goal of making the Philippines a leader in digital innovation in Southeast Asia.
